Al Gore now richer than Mitt Romney
With the sale of Current TV, the former vice president's fortune is pegged at more than $300 million.
A lot has changed for former Vice President Al Gore, who left the White House with a reported $1.9 million net worth.
That puts his net worth well ahead of that of former presidential candidate Mitt Romney, who has an estimated fortune of $230 million and was often mocked for being out of touch with ordinary Americans during the election.
Gore's wealth accumulation began soon after he left the White House in 2001. Apple (AAPL) tapped him in 2003 to serve on its board, and the former vice president held more than 100,000 shares and options in the tech company as of Dec. 17, according to a regulatory filing. That makes Gore's stake worth more than $56 million, based on Apple's recent trading price.
Google hired Gore to serve as a senior adviser on environmental issues in 2001, a role he held for three years. He doesn't have a formal financial relationship with the company currently, Forbes.com reports.
Gore also has his hand in a global investment company called Generation Investment Management, which he founded in 2004 with ex-Goldman Sachs (GS) executive David Blood. Together, Blood and Gore have reportedly built a company with assets under management of more than $6 billion.
The truth is, serving in the White House often proves beneficial to a person's financial health.
Take a look at former President Bill Clinton, who since leaving the White House has built a net worth of about $38 million, helped by income as an author and public speaker. He's able to command speaking fees of more than $700,000, although more typically he is paid in the $500,000 range for his public events, reports CNN.com.
Still, Gore's new wealth may strike some people as being at odds with his image as an environmental do-gooder.
Conservative television host Bill O'Reilly condemned Gore as a hypocrite, citing a report that he wanted to sell Current TV to Al-Jazeera before higher taxes kicked in on Jan. 1.
Other people have pointed out that Current's sale to Al-Jazeera, which is backed by Qatar, "reeks of irony," given Qatar's oil-based economy, which might not jibe with Gore's environmental message from "An Inconvenient Truth."
Gore's net worth might not be as high as Forbes estimates: Bloomberg, for one, pegged his profit at $70 million from the Current TV sale. If that's the case, his net worth might be only $270 million or so -- but that's still higher than Romney's.
More on Money Now
- Self-driving cars roll into CES
- College football wins more fans and ad dollars
- Sushi mania: 489-pound tuna sells for $1.76M
Maybe al can thank the president for my MIDDLE CLASS tax increase!
"During my service in the United States Congress, I took the initiative in creating the Internet."
- Al Gore
I figured he would be worth more than 300 million if he did this...
Never ceases to amaze me how the Democrats are supposedly for "the little guy" and the middle class, defending them against the mean Republican rich guys, but they themselves are rich capitalists.
They give little if any to charity but want all us upper middle class workers to fund the welfare class who are on the government dole.
What a jerk! I totaly agree with itnm on this one.
Liberal hypocrites love to hate the rich conservatives.
Look at brad pitt and most of hollyweird.
Mat 16:26For what is a man profited, if he shall gain the whole world, and lose his own soul? or what shall a man give in exchange for his soul?
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The major averages ended the Wednesday session on a mixed note. The Nasdaq (+0.4%) and Russell 2000 (+0.3%) posted modest gains while the Dow Jones Industrial Average (-0.1%) finished in the red. For its part, the S&P 500 (+0.03%) settled just above its flat line.
Stocks began the day in the red, but spent the first two hours of action in a steady climb off their lows. The cautious start took place amid broad-based weakness across major European markets where ... More
More Market News
With sales suffering as a string of novelty menu items missed the mark, the fast-food chain's latest offering is a good old-fashioned sandwich with bacon.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'